February 10, 2014 / 12:50 AM / 4 years ago

PRESS DIGEST - China - Feb 10

SHANGHAI, Feb 10 (Reuters) - Chinese newspapers available in Beijing and Shanghai carried the following stories on Monday. Reuters has not checked the stories and does not vouch for their accuracy.


- The People’s Bank of China has signalled that it will take a more active approach to supplying liquidity to the interbank market in its latest policy statement published on Saturday. The central bank confounded the market twice last June and December when it allowed dramatic rises in money rates, roiling global financial markets.

- China CEFC Energy Co Ltd, a private Chinese oil trade firm, and its Shanghai unit have bought a combined stake of more than 5 percent stake in state-owned giant Sinochem International Corp - a major move by a private company to enter China’s state manipulated energy sector.


- China’s market for eco-friendly cars should see fresh momentum in 2014 after the government announced policy measures to support the sector, analysts say.

- Local governments should try to ensure that China’s latest urbanisation drive does not translate into further rises for the country’s already sky-high property prices, this major official financial newspaper said in a commentary.


- Top listed housing firm China Vanke Co Ltd saw its January sales climb 45 percent to 27.65 billion yuan ($4.6 billion), a further sign of a robust property market.


- China was likely to have become the world’s largest trader in goods for the first time last year, overtaking the United States. The milestone underscores the country’s steady expansion in foreign trade, particularly since the 2008 global financial crisis.


- Just hours after the official China Central Television (CCTV) accused police of doing nothing about the rampant sex trade in Dongguan, known as China’s “sex city”, 67 people were detained and 12 entertainment venues shut down late on Sunday.


- The recent visit to Russia by China’s President Xi Jinping have laid solid foundations for the two countries to further develop their bilateral relations in 2014, a commentary by this mouthpiece of the ruling Communist Party of China said.

For Hong Kong and South China newspapers see.....

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